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Thread: the fed is removing silver coins from circulation too

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  1. #1
    us
    the fire

    Aug 2010
    319
    1 times

    the fed is removing silver coins from circulation too

    I imagine they get the good shipments and cull the silver. I've always thought this, but I've confirmed it with a coin machine owner, and a bank, and my own intuition, thus is MUST be true.
    But yeah, of course they are CRH, they probably have a position at the main headquarter type bank coins storages that just searches or runs the silver searcher machine.
    It just makes sense... no?
    How cool would it be to be that guy.

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  3. #2
    um
    Jan 2010
    Fisher F2
    902
    2 times

    Re: the fed is removing silver coins from circulation too

    Sorry, but I doubt it. Regulations and camera's would have them cuffed and removed quickly.

  4. #3
    us
    Feb 2010
    SJ, CA
    150

    Re: the fed is removing silver coins from circulation too

    I'm not sure if they still do it, but I know they used to. It wouldn't surprise me. If the US treasury will cull old bills out of circulation why wouldn't the US mint?

    Thank goodness my pickup bank has one large branch that wraps their own coins from close to 100 branches

  5. #4
    us
    the fire

    Aug 2010
    319
    1 times

    Re: the fed is removing silver coins from circulation too

    No, I mean like they KNOW about it, and are paying people to do it. The person woulden't keep any for themsevles of course, because they don' want to loose the job.

    If they aren't doing, they sure as heck know about it. And does the US govt sound like the govt. that would let all that silver slip through thier fingers?

  6. #5
    us
    Feb 2010
    SJ, CA
    150

    Re: the fed is removing silver coins from circulation too

    Quote Originally Posted by FiresEye
    No, I mean like they KNOW about it, and are paying people to do it. The person woulden't keep any for themsevles of course, because they don' want to loose the job.

    If they aren't doing, they sure as heck know about it. And does the US govt sound like the govt. that would let all that silver slip through thier fingers?
    Once again, I wouldn't be surprised. When money is as tight as it is, everyone including the government is looking for easy ways to make money. I would bet money that if they are culling silver, it's going into them new commemoratives and ASE's.

  7. #6
    us
    Feb 2008
    Great Lakes State
    #7
    8,559
    913 times
    silver surfing

    Re: the fed is removing silver coins from circulation too

    Until someone here can provide absolute proof, it's never happened.

  8. #7
    us
    Mar 2009
    MI
    ace 250
    1,881
    11 times
    All Types Of Treasure Hunting

    Re: the fed is removing silver coins from circulation too

    I'm gonna say that they probably aren't. If they wanted to do it they would just pull all half dollars out of circulation. If that ever happens, then that's probably what they are doing.
    2012 finds

    40%- 88

    A lot of garage sale gold and silver!

  9. #8
    us
    Mar 2010
    Central Illinois
    T-2 Garrett Pro Pointer
    615

    Re: the fed is removing silver coins from circulation too

    If banks machines and Coinstar machines can reject silver coins, surely the fed would have them as well. Why buy silver to make coins when you have it sitting in your vaults.
    2011 YTD
    1st  half     2nd
     64 Rosies     72
       3 Mercs       3
       1 Barber
       7 Wash.       7
       1 Walker
       3 Bens
       5 64 Ken      1
      15 40%ers     3
       7 Buffalos
    207 Wheats     15
       3 Steels         6
       1 Indian
     10 War Nickel
       2 foreign sil.   1

  10. #9
    Charter Member
    us
    Dec 2008
    St. Augustine, FL
    3,243
    725 times

    Re: the fed is removing silver coins from circulation too

    Quote Originally Posted by dave5710
    If banks machines and Coinstar machines can reject silver coins, surely the fed would have them as well. Why buy silver to make coins when you have it sitting in your vaults.
    Your assumption is rooted in efficiency. You realize that this is the Federal Government? In addition, the Mint and the Federal Reserve are 2 separate entities. Have you seen such cooperation between two agencies before? On top of that, the Mint doesn't manufacture silver planchets. They outsource it. The silver planchets are procured from a private third party. The only planchets the Mint manufactures are clad. They don't even make the zincoln planchet.

  11. #10
    us
    Oct 2007
    East Tennessee
    263
    Coin Roll Hunting

    Re: the fed is removing silver coins from circulation too

    Quote Originally Posted by fistfulladirt
    Until someone here can provide absolute proof, it's never happened.
    I agree!
    Silver? What silver??

  12. #11
    us
    Nov 2008
    4,291
    2 times

    Re: the fed is removing silver coins from circulation too

    Why on earth would the Fed remove silver coins from circulation when they can create and pocket gazillions of dollars whenever they feel like it.
    HH
    Rich
    Generic_Lad and sagittarius98 like this.
    2011 Finds
    6x War Nickels
    1x Buffalo Nickel
    1x Mercury Dimes
    66x Roosevelt Dimes
    2x Canadian Dimes
    0x Washington Quarters
    15x WLH
    12x Franklin
    46x 1964 Kennedy
    161 x 40% Kennedy

  13. #12
    us
    Dec 2008
    rome, ga
    241

    Re: the fed is removing silver coins from circulation too

    This would be a good one for jesse ventura to look into.

  14. #13
    us
    Apr 2010
    1,138
    257 times

    Re: the fed is removing silver coins from circulation too

    Rich is right, no need to work for the silver when the Fed can just create another $600B out of thin air... Oh well, for the rest of us we must CRH
    sagittarius98 likes this.

  15. #14
    us
    the fire

    Aug 2010
    319
    1 times

    Re: the fed is removing silver coins from circulation too

    Quote Originally Posted by dave5710
    If banks machines and Coinstar machines can reject silver coins, surely the fed would have them as well. Why buy silver to make coins when you have it sitting in your vaults.
    Exactly.

    And maybe not the fed itself, but the top corporation money changers.. They are wayyy onto this. I'd be surprised to find ANY silver in a box in say, 5 or 10 years.


    About the fed being able to create money so why would they need the silver? Because to back up this currency and prevent collapse, they NEED the silver, as hard time barter... trust me.

    Also, Just imagine how much us CRH's have gotten. They would be able to net billions in silver coins from circulation if they started years ago, which they did.
    But silver is just one part of their plan.. just look at gold. Also Gasoline.. like how the prices are controlled by way too variant factors.

    I still vouch that silver makes great weapons...

  16. #15
    us
    Sep 2008
    115

    Re: the fed is removing silver coins from circulation too

    I'm with Rich.

  17. #16

    Apr 2008
    3,040
    133 times

    Re: the fed is removing silver coins from circulation too

    This topic pops up every few months. So far, nobody has ever shown any proof that any culling goes on by any coin rolling facility, etc.

    When NONE of the CRHers here find any silver in their boxes for a period of 6 months or longer, then I will believe that they are removing the silver. The silver cullers are all the CRHers doing either 20 boxes per week without fail or 2 boxes per week, not the fed or coin couriers.

    If they were culling silver the machine would not miss so many. I have been on this site for over 2 years and people have been making this false claim (culling) as long as I remember. Been alot of good finds in boxes reported on here in the past 2 years from all across the country.

    The gov doesn't need the paltry amount of silver still floating around in circulation. To put it in perspective, 100,000 ounces of pure silver is $2.6 million dollars worth now. Anyone think there is anywhere near that much silver circulating through the banks in old US coinage? What good is $2.6 million to the gov?

    Jim

    R.I.P. Rich Hartford

  18. #17
    us
    Aug 2009
    ACE 250 (MD) Bare hands (CRH)
    2,074
    10 times
    All Types Of Treasure Hunting

    Re: the fed is removing silver coins from circulation too

    The fed isn't culling silver. The silver cullers are all of us! Also if you think about it silver is now being "culled" at the point of entry back into circulation as many types of coin counters now reject silver and it doesn't have that means to be put back into the system that way. Silver coins being spent and returned back to suppliers by means other than coin machines allows for silver to be put back into the system.
    Previously I have dug around looking to see if there was any hard truth to silver being culled by the coin couriers and the only thing I could find was rumors that in the southwestern US there was one that was suspected of doing it. Now this is a rumor and there is no evidence (other than JRF30's poor silver finds in AZ) to substantiate it.
    There is no silver left around here...

  19. #18
    us
    Nov 2008
    4,291
    2 times

    Re: the fed is removing silver coins from circulation too

    I have had Loomis boxes that were opened and reglued and found top coins removed. However I did find silver in these boxes. So the enders were taken but by whom I'm not sure. Could have been by bank employees or the drivers. A glue gun was used to reseal the boxes.
    It does not happen often though.
    HH
    Rich
    2011 Finds
    6x War Nickels
    1x Buffalo Nickel
    1x Mercury Dimes
    66x Roosevelt Dimes
    2x Canadian Dimes
    0x Washington Quarters
    15x WLH
    12x Franklin
    46x 1964 Kennedy
    161 x 40% Kennedy

  20. #19
    us
    the fire

    Aug 2010
    319
    1 times

    Re: the fed is removing silver coins from circulation too

    Loomis and brinks NEED crh's to stay in buisness so they cull the majority, leaving a few , like chum, to call the fishes

  21. #20
    us
    Ledford

    Apr 2011
    Virginia
    Garrett AT Pro , Garrett Pro Pointer , Garrett Ace 250, Bounty Hunter Gold Digger
    134
    2 times
    All Types Of Treasure Hunting
    ive went to 6-8 different banks in my region an the tellers are actually culling the silver that comes through
    Metal Detecting
    1x 1943 War Nickel
    1x 1940 Mercury Dime
    Coin Roll Hunting
    2x 1964 Roosevelt Dimes ,1962 Roosevelt Dime, 1952 Roosevelt Dime,1950 S Roosevelt Dime,1958 D Roosevelt Dime ---Last Update- 5-16- 12

 

 
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